Heytex Acquired by Deutsche Beteiligungs AG
“Our capital will enable the company to identify even more applications for its textiles..."
German private-equity firm Deutsche Beteiligungs AG (DBAG) has announced that it will acquire Heytex Bramsche, the manufacturer of print media and technical textiles, in a management buyout. DBAG will hold an interest of up to 19 percent in Heytex; co-investing DBAG Fund V and Heytex management will acquire the remaining shares. The transaction is expected to be completed this calendar year.
“Heytex adds a company to the portfolio that is well-positioned in its operations in a growing market over the long-term, despite all cyclicity,” says Dr. Rolf Scheffels, member of Deutsche Beteiligungs’ board of management. “Our capital will enable the company to identify even more applications for its textiles, with which it can demonstrate its outstanding technology knowhow."
In May 2012, Heytex announced it had established a US subsidiary in Hendersonville, North Carolina. The newly established Heytex Corp. is responsible for the distribution of all Heytex products in the US, including sign textiles, fabrics and textiles for industrial uses, and textile solutions for other applications.
“Maximum proximity to the market and our customers is the prerequisite for sustainable growth. In particular on the important US market we want to make more efficient use of our potential from now on,” said Heytex CEO Dr. Heribert Decher. “Therefore, the establishment of the new Heytex Corp., run by experienced experts in this industry, is a consequent step in connection with our global growth strategy.”
Heytex was founded in 1913 as Julius Heywinkel GmbH, a canvas-weaving mill in Osnabrück, Germany. In 1957, it was taken over by car-chassis manufacturer Karmann and was then sold in 2007 to NORD Holding, a private-equity company. The company employs a staff of more than 300 and has production faciliites and sales offices in Bramsche and Neugersdorf, Germany, and in Zhangjiagang, China, as well as Los Angeles, Charlotte, Sao Paulo, and Hong Kong. In 2012, the company expects to generate revenues of more than $104 million.